Federal judge wraps up hearings into CVS-Aetna deal

Federal court hearings on CVS Health's acquisition of Aetna wrapped up Thursday without a firm date for when Judge Richard Leon would rule on a Justice Department settlement that allowed the deal, and legal uncertainty for the merged firm could last well into the summer.

Federal court hearings on CVS Health's acquisition of Aetna wrapped up Thursday without a firm date for when Judge Richard Leon would rule on a Justice Department settlement that allowed the deal, and legal uncertainty for the merged firm could last well into the summer. Leon heard testimony on the nearly $70 billion merger in a proceeding he decided to conduct after reviewing the terms of the October settlement between the two companies and the Justice Department that allowed the deal to go through. Judge Leon has expressed concerns the settlement does not do enough to protect consumers, including those who purchase medication under Medicare Part D. CVS and Aetna had been competitors in that business. He said he would accept final briefs and then hear closing arguments from supporters and opponents of the deal in July. A major focus of the hearing has been whether a CVS plan to sell Aetna's Medicare Part D business to WellCare Health Plans would sufficiently bolster competition and protect consumers.